Bladetec Plans to Build the Largest UK Bitcoin Farm

Bladetec, a British tech company known for its business relations with NATO and UK Ministry of Defense, is building one if the largest Bitcoin mines in Europe.

The facility is going to be really impressive, covering 3,500 square feet in London, Surrey, and Suffolk. The cost of construction and operation of the farm is estimated at £10 million. This money will be used to purchase about 1000 ASICs running at 43 Terra-Hashes per second, a speed that is unparalleled today. This kind of calculating power will put the mine in the world’s top 25, so considerable profits are expected.

The Telegraph reports that the company is going to mine 1,280 bitcoins in the two-year period. At the current prices, it would be worth £7.8 million. In 2021, though, we could see a different picture. A big part of the revenue will be used to cover energy costs, so Baltec is negotiating with wind farms to lower the price of electricity.